* Expects to post third annual loss in four years
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TOKYO, March 19 (Reuters) - Japan's loss-making Sharp Corp
intends to cut 12 percent of its workforce in a global
restructuring expected to cost more than $1.7 billion, a person
familiar with the plan said on Thursday.

The job cuts will total around 6,000, half of which would
come in Japan through early retirement while the rest would be
overseas, according to the person, who was briefed on the matter
but declined to be identified as a formal decision has not been
made.

On track for its third annual net loss in four years, the
LCD screen and consumer electronics manufacturer has been in
talks with banks, seeking to secure its second major bailout
since 2012 while working on a fresh plan to overhaul its
business.

Sources have said a debt-to-equity swap would be a logical
option and that Sharp has also asked Japan Industrial Solutions,
a corporate turnaround fund, to invest up to $250 million in
capital.

The person who spoke to Reuters on Thursday said a
debt-to-equity swap and an investment from the fund would likely
help cover the restructuring costs of more than 200 billion yen.

Sharp declined to comment on reports of restructuring plans,
saying that it has not made any announcements.
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